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with eucalyptus trees. long paths allow you to meander, perfect for dog walking in a wooded environment. >> i enjoy this base and the history behind it. the diversity that exists in such an urban city, the concrete, the streets, cars, we have this oasis of a natural environment. it reminds us of what san francisco initially was. >> this is a section for dogs and plenty of parking. transit is available to get you there easily. and the part is ada -- park is ada accessible. there is also a natural lake. this is your chance to stroll and let the kids run free. it also has many birds to watch. it is the place to find some solitude from the city and appreciate what you share with a wonderful breath of fresh air. , an experienced this park and enjoy the peoples, picnics, and sunshine. this is a lovely place to take a stroll with your loved one hand in hand. located in the middle of pacific heights on top of a hill, lafayette park offers a great square a of a peaceful beauty. large trees border greenery. it features tables and benches, a playground, restaurants, and tennis courts. there are plenty
studying the b.p. case and the relationship between business and the environment. how important is today's set element -- settlement. >> this is the biggest story.no. we have more dollars at stake. >> in terms of how importantthil us a little more. it's a record settlement. but it does encompass quite a few different features. in addition to the felony charges there is the fec investigation and the resolution of that matter and that is a big deal. >> darren is saying it's notove. the government is bringing gross negligence charges against bp. bp is going to fight it vigorously how is that going to play out? >> it's difficult for them toave standard when they admitted to the felony charges. when it's related to the environment. it's some $20 billion this is a big story but it's an even bigger story ahead. >> there have been so many fines there a silver lining to all of this? does this make the deep water drilling safer going into the future? >> well it's certainly a goodstr investors and the shareholders will see the company in a greater light. brrchltbut unfortunately we aret going to se
place to invest. >> a lot of cross border deals. is the environment todayl emplo russia is still a good place to invest. >> a lot of cross border deals. is the environment todayemploye russia is still a good place to invest. >> a lot of cross border deals. is the environment todaymployee russia is still a good place to invest. >> a lot of cross border deals. is the environment todayployee a is still a good place to invest. >> a lot of cross border deals. is the environment todayloyee i is still a good place to invest. >> a lot of cross border deals. is the environment todayoyee i is still a good place to invest. >> a lot of cross border deals. is the environment todayyee i f still a good place to in more or less friendly? >> there is no compare ton. when mr. putin came in, he changed the tax code which made a huge difference.ie ton. when mr. putin came in, he changed the tax code which made a huge difference. it was 13% flat tax, corporation tax 24% and suddenly you couldn't invest in companies because could you understand what was in the financials of the company. so accounting firms g
, and confucius sort of emerged in this environment and said, this can't be right. and it was a combination of let's go back to the origins and understand where we came from, this instinct to go back to how did all this begin and then also to sort of develop a kind of a provision for how to order cefully re rationally, and of course confucius and taoism have radically different solutions. out of this original concept of sensing the oneness of human beings with each other and with nature the confucians came out in believing we need a government, we need an ordering of society, we need a benevolent but vertical set of relationships. whereas the taoists sort of emerged from this experience said, "that's part of the problem, in fact." human beings are trying to fix it and nature doesn't get fixed. you let nature be and if we're a part of nature, in a sense they became anarchists and the logical conclusion from the taoists is to go off into the woods and be by themselves. but in a sense nothing is - it's not a sort of like a confession where i'm a confucianist and i'm a taoists. there's a saying that,
in international environments to help promote humanitarian missions. fleet week got involved with a humanitarian mission back in october in the earthquake in van, turkey. there's a heavy kurdish in san francisco and the ... better recover from their event and how to better prepare in the future from the katz traufk event that had taken place would not occur. we got a phone call at the fleet week association to ask if we could help bring together some resources and leet a fact-finding mission and we did that. one of our panelists is up here, second from your left, rob dudgeon, he's with the department of emergency management and he's the director of emergency services. rob's organization has been instrumental in creating the program that we have from back in 2010 all the way through to today and i know in the future we're already talking about putting together a hot wash of everything we've learned through 2012's fleet week. so rob is going to talk about the van, turkey mission. from turkey we have rear admiral guereva he has more than 14 years sea-going experience serving across various frig
in that environment. none of that is done without our dependence and our environmentment in the cyber world. the cyber domain and each and every one of us have become inseparable. tegnonk drives everything we do. -- technology drives everything we do. it resides in private sector. let me repeat that. the vast majority of our infrastructure in the united states resides in the private sector. the national security risks and the economic risks are still with the private sector. remember the government doesn't do it alone. our partners are the private sector. whether you work for the government or you work for private sector you can contribute no matter where you are. in whatever professional desire is. >> it's private sectors, holds as lot of data. and they're protection to the united states priorities is of a national important. the president declared recent lip and i quote. this is in the top five. the cyber threat is one of the most serious economic and national security challenges we face as a nation and america's economic prosperity in the sunshinery -- century depends on that. we have more informat
. what you are seeing is sand walls here basically stopping his from wrecking the environment. they eat croupier's year, department off health, all sorts of government operations because they're worried about toxic leaks and hazardous materials, but of tell you something. the weight of this is astounding surpassing the weight of the empire state building, and it's going to reach the weight of the entire u.s. space station. what's going to happen, it was slowly and steadily remove this debris completed an 18 wheeler trucks and ship it out of new york state possibly into states like pennsylvania where possibly public sector -- public companies like waste management can bid on deals. basically one man's trash is another man's treasure, but it's heartbreaking. when seen throughout the day, mattresses, dryers, washing machines, photo albums, along shares, baby carriages, bicycles. standing around here, i have picked up photos of of the ground from -- it's heartbreaking. black-and-white shots, color shots, just around here in the area. we have been here throughout the day. the president did a
to address what needs to be done in that environment. none of that is done without our dependence and involvement in the cyber war. technology drives everything we do. the internet has made is more connected than at any other time. the vast majority of our infrastructure reside in private sector. let me repeat that. the vast majority of our infrastructure reside in the private sector. the national security risks and the economic risks are still with the private sector. the government does not do it alone. they do it in concert with our partners and our partners are the private sector. for those of you were talking to earlier, with the work for the government or the private sector, you can contribute no matter where you are in whatever your professional desire is. this private-sector holds a lot of data and these are pretty profound -- their protection of the priorities is he has a list of priorities. this is the top five. the cyber threat is among the most serious challenges we face as a nation, and america's prosperity will depend on cyber security. the united states does have a
subsidizing a technology that destroys the environment in the name of saving the environment. for example, for the same -- it would take a row of 50 wind turbines from the appalachian trail to maine, that's 178 miles, to produce the same amount of electricity that four nuclear reactors would produce. the best way, mr. president, to produce cheap, clean energy in the united states is to let the marketplace do it, let the marketplace do it, not to subsidize jobs for technology that can stand on its own and produces only a small amount of unreliable electricity. so, mr. president, let's use this week to celebrate but let's celebrate the end of the temporary 21-year-old wind production tax credit and use the $12.1 billion saved to reduce the federal debt. thank you, mr. president. i yield the floor. a senator: mr. president? the presiding officer: the senator from louisiana. ms. landrieu: thank you, mr. president. i have come to the floor to speak just briefly about a very exciting opportunity and occurrence that we celebrate and honor every november, and that is the opportunity to adopt chil
municipal bond etfs. my question to you is, in this environment, with the economic environment, with the possibility of a compromise regarding the fiscal cliff, vis-a-vis the increase revenues and cuts in spending, what is your analysis and your opinion on the tax free municipal bonds at this juncture? >> you have to buy them. the individual is going to go right back them and move them up. i think that's a great place to be. don't touch them. i want you to buy them. brilliant idea. now we go to paul in louisiana. paul? >> caller: hey, jim. thanks for taking my call. >> no problem. >> caller: i've been just getting in and sticking with a stock itw. i've been following it for a couple months. they seem to be doing pretty well. there is going to be a change in the leadership. can you comment? >> david spear passed away which is -- he was a terrific guy. this is a very well run company. i suspect that they won't really skip a beat. it's always been a favorite of mine. i would continue to own it. i wouldn't buy it off this. he's a good man. i think it's fine. i think it is fine. is
heidi, the environment clearly a global challenge, clearly a part of the foreign policy. how does it fit into the economic statecraft? >> it fits into a lot of different things the state department is working on. what we as a relatively new office of seven months and only a few people have been working on are much more than the sort of geographic priorities that the secretary has highlighted, so i probably wouldn't be the best person to speak to this department with a whole host of environmental issues. a lot more time on the year autozone and the relationship and then there's a little bit of a list from the economic analysis perspective that we tend to spend most of our time on. >> all of the subjects but maybe everybody else would like a chance to do that, too. questions? i think there is a microphone here. is there another mic? going once -- if people don't have questions i will ask them. okay. >> the council of the land that. one of the things that we observed both in the atlanta environment and looking at the global companies that has to do with our competitive edge advantage in col
environment will remain unfavorable. in addition, the committee believes that the effective supply capacity of the economy is likely to continue to grow slowly over the forecast period. in october, cpi inflation picked up to 2.7%, partly as a result of higher university tuition fees. the committee's best collective judgment of the outlook for cpi inflation is summarized in chart 3 on page 8 of the report and is based on the same assumptions about monetary policy as chart 1. inflation is likely to remain above target for the first part of the forecast period and is higher than in august reflecting recent outturns and the announcement of large increases in household energy prices. further declines in inflation not being checked by price increases in sectors where market influences are weak. the rising student tuition fees alone added over not .3 percentage points to yesterday's inflation figure and do pestic gas and electricity prices are raising faster than wholesale energy prices. such factors are pushing inflation -- >> the point mervyn king is making there that part of the reason inflatio
damage was being done to the environment that, in fact, was really occurring. acknowledging those lies, b.p. has agreed to plead guilty to felony obstruction of congress. make no mistake, while the company is guilty, individuals committed these crimes. and we have also unsealed today a 23-count indictment charging b.p.'s two highest ranking supervisors aboard the deepwater horizon with manslaughter and violation of the clean water act. the two b.p. well site leaders are charged with negligence and gross negligence on the evening of april 20, 2010. in the face of glaring red flags indicating that the well was not secure, both men allegedly fail told take appropriate action to prevent the blowout. a separate indictment was also unsealed today, charging a former senior b.p. executive, david rainy, with obstructing a congressional investigation and making false statements to law enforcement officials. the indictment alleges that rainy, on behalf of b.p., intentionally underestimated the amount of oil flowing from the well. rainy allegedly cherry picked pages from documents, withheld other doc
be thriving in an environment where lots of people are worried about their taxes going up year end and the fiscal cliff is starting to get top of mind. you have a stock like walmart which has been a juggernaut, going up in a straight line since april until the recent pullback. then there is a company like -- sell, sell, sell. jcpenney. if you thought things couldn't get worse for jcpenney under the ceo, well, you were very wrong. as the company missed estimates once again on friday, reporting absolutely hideous numbers, they were blinding. sure enough, penney's continued the decline today, down another $2.67, 13%. like the wheel of fortune, where she stops, nobody knows. far more important, just so you know, there is a piece of preferred, there is another corporate piece of paper affiliated with jcpenney and that is sinking like a stone. that is more valuable to tell how bad things at jcpenney are. johnson tried to revolutionize by getting rid of coupons, cutting price as cross the board, they failed tragically and they started issuing coupons again. customers don't trust them. jc
. >>> environment 58 researchers from southeast asia are sounding the alarm over marine pollution. they gathered in jakarta to share their research into the state of local seas. the indonesian government organized the seminar with the japan sociy fo the pmoti of science. about 150 people attended. japanese researchers say they found plastic garbage last year in the stomach of a seal of indones indonesia's island. they say the garbage can easily accumulate on the deep sea floor as currents are weak. some researchers say they found metals in the seabed in the manila bay and others reported finding chemicals in the java sea much indonesia. >>> emerging economic powers stilltruggling with poverty. emboldened citizens demanding democracy, the threat of violence, the push for peace, the shadow of conflict. get news and insight on south and southeast asia every weekday live from bangkok, only on nhk world "newsline". >>> the mayor of an island in the east china sea is trying to diffuse a dispute over fishing rights. he is visiting taiwan to talk about access to waters off the senkaku islands. he admini
action on issues such as jobs, social security, and corruption. >> translator: in the new environment, our party faces many tough challenges. there are numerous pressing problems within the party and senior ranks that need to be resolved, especially corruption and the acceptance of bribes. >> reporter: xi jinping is taking over the position of general secretary from hu jintao. he will lead the political bureau standing committee, china's main decision-making body. the number of seats on the committee has been reduced to seven from nine. analysts say the party made the change to speed up the decision-making process. xi jinping and another top official, li keqiang, have been on the standing committee since 2007. the rest of the members are new. xi introduced them all during his speech. [ applause ] >> li keqiang. comrade zhang dejiang. comrade liu yunshan. comra comrade yu zhengsheng. and comrade zhang gaoli. >> reporter: the majority of officials on the standing committee are allies of former president jiang zemin, who retired from politics nearly a decade ago. they face a number of ch
air strikes. and it has been a problem since this administration helped create the environment in north africa. and in the middle east, with those who want to see israel destroyed could take power. more violence has occurred. not less. more people's lives are in danger, not less. there's less freedom of worship, not more. the things that we believe in, freedom of worship of all people, or no worship if people choose not to worship, those kind of things should be kept. and yet, we are seeing this administration took over afghanistan, more americans die and about half the time under commander-in-chief obama has died in seven years than president bush. american military. over 70% of those killed in afghanistan have been under commander obama and about half the time. we have seen violence escalating against americans in afghanistan. we have seen the last christian church, public christian church pull out of afghanistan. this administration should be encouraging freedom of worship, encouraging the liberation of women, of children. and yet, for all its help, it has created environmen
to return profits in 2013, but high fuel costs and a poor economic environment continued to weigh on profits. air berlin is not alone in going through some turbulence. this is not a great time for europe's airlines. >> many are struggling to stay in business. here's a look at the litany of problems they face. >> scandinavian airline sas is fighting for survival. the carrier has not turned a profit in five years. it is not alone. just last week, spain's flagship carrier said it would cut nearly a quarter of its work force in an effort to remain competitive. sas alone plans to cut more than 1/3 of its 15,000 employees. air france is looking to reduce staff to 45,000 workers. and germany's lufthansa is also in the midst of a painful cost- cutting program. earlier this week, the airline struck a deal with unions to raise cabin crew pay in exchange for no strikes over the christmas holidays. >> coming up, we've got some sports news for you. >> first, some other stories making news around the world. three demonstrators have vented their anger at a german consul. he was heading for a meeting with l
charged three more people over the deep water horizon accident. this from environment and energy news. the justice department charged three workers involved in the deepwater horizon with various criminal violations. dd go down to amarillo, texas, merlin is waiting on the independent line. you're on the "washington journal." caller: i was just wondering how much b.p. has actually made cleaning up the spill? host: not a stat i have for you right now, merlin. i can tell you b.p. was reporting profits in the fourth quarter of 2010 after the spill occurred. profits of about $5.5 billion. the spill occurred in the summer of that year. this according to b.p.'s website. in the third quarter of 2010, b.p.'s profits were about $5 billion. in the fourth quarter of 2011, $7.6 billion in profits. caller: does anybody think that they might have did it on purpose? host: why would you think that, merlin? caller: well, because i heard that the night right before the spill they pulled out their stocks in a lot of, you know, some of the money that they had out there, they pulled out -- host: where are y
dividend yield in this market environment. so, two names that had kind of been thrown to the wayside, dell and cisco, i kind of like down around these levels. > > let's talk about some levels were you would buy, starting with cisco systems. what is your buying point on this stock? > > really anywhere around here. they came out with what i thought were really nice numbers, not only on the earnings side, but more importantly on the revenue side. this stock has gotten sold into submission with fears that government spending, which is a big component of cisco, will fall off that fiscal cliff so to speak. but not the case, and cisco is priced for utter disaster. so, i also like it on a yield basis. it's yielding way more than the 30-year bond here. > > no fiscal for cisco. so what about dell? where would you want to own this? > > same kind of story there. dell is reinventing itself as more of a services company. certainly the hardware side is languishing to say the least, but, again, you are looking at a market multiple that's below six, also with almost $4 a share in cash, the stock trading ar
. >> translator: in the new environment, our party faces many tough challenges. there are numerous pressing problems within the party and senior ranks that need to be resolved, especially corruption and the acceptance of bribes. >> reporter: xi jinping is taking over the position of general secretary from hu jintao. he will lead the politburo's standing committee, china's main decision-making body. the number of seats on the committee has been reduced to seven from nine. analysts say the party made the change to speed up the decision-making process. xi jinping and another top official, li keqiang, have been on the standing committee since 2007. the rest of the members are new. xi introduced them all during his speech. >> zhang dejiang. yu zhengsheng. liu yunshan. wang qishan. zhang gaoli. >> reporter: the majority of officials on the standing committee are allies of former president who retired from politics nearly a decade ago. they face a number of challenges. one is wrapping up china's slowing economic engine. another is addressing growing social discontent over the widening wealth gap a
difficult particularly in the middle of a very unstable environment such as the u.s. fiscal cliff and the european debt crisis. china's government needs a very stable export sector as it would take some time before the domestic consumption can be built up to a fully -- a full capacity that can substitute the export sector as one of the main engines of the economic growth. >> reporter: meanwhile, china has been boosting economic ties with countries in east and southeast asia and the policy seems to be unchanged. >> i think both east asia and southeast asia are important economic partners with china. given the economic problems in the u.s. and europe, china would be interested to promote more free trade within this economic bloc because china can out source at lower value for example in vietnam, cambodia, etcetera, so china can move up the chain by adding values to these products and then sell these products to richer neighbors such as japan and south korea. >> many chinese people are staying away from japan because of a bilateral territorial dispute. the number of chinese visitors
that now, five years is a very, very long time in this environment. >> rose: will they in the next five years be able to move this from the sort of exporting economy model to a domestic demand model? >> i mean, the distinction between reformers and conservatives is a bit of an artifice, everyone that is meangful in cna ttuns the country knows that they have to shift and trance form the economy, but the fact that someone is in favor of reform does not mean they are in favor of free market reform. so clearly there is going to be a lot of interest in redistributing wealth and whether or not they can move on that is an open question. but trying to ensure that folks, more people get into the middle classes, there is less dissent and less dissatisfaction with their lot in life as growth in china slows. >> rose: can the communist party as it exists today in its closed way, how long does it have? >> i have an answer for that. as i think i have discussed with you before, charlie, one of the main impressions to me of living in china opposite things are always true, it is wonderful and horrible an
, the environment and natural resources division, the u.s. attorney community and the many talented federal and state law enforcement agents who have worked so hard for so long to develop these cases. i would like to thank our colleagues at the securities and exchange commission for their important parallel investigation. with that i would like to turn it over now to my friend and colleague, the director of enforcement at the f.c.c. thank you. >> thank you. i'm director of enforcement at the f.c.c. today we are announcing that b.p. has agreed to pay more than a half billion dollars that it misled investigators about the rate of oil flowing during the deep water horizon disaster. the $525 million penalty represents the third largest civil penalty ever assessed and those funds will be used to compensate harmed investors for losses sustained from this fraud. b.p. misrepresented in f.c.c. filings that the oil spill flow rate was estimated to be up to 5,000 barrels of oil per day and that was the current estimate. in fact b.p. was in position of numerous analysis where 5,000 was at the lowest en
with training, and you have to create an environment where you understand that is going to happen and it is not necessarily a career injured. we are working on it. it is absolutely essential that we do. when i came in, we notice that 70's are of our public diplomacy dollars were spent on a demographic over the age of 35. we said looking at the world, the fact is that you have a far better opportunity of planting the seeds with a younger demographic which is what i was so supportive of the program. he said it is so it difficult when you wreach those. when you're younger you have an ability to do that. if we can have a good conversation with a young girl in pakistan she will be able to change the perception of the united states in a way that we never could. it is the wisest testament not just for the future but for whitright now. >> we have a clash of technology in future. it is going to play out. she came across this egypt influenced network. if you google it, it is this blob of blue, red, purple circles. to the blue are people tweeted in english. the right people in arabic. the pu
" cramer gave you ideas for keeping your portfolio airborne in this environment. what sky high advice is he about to give right now? jim's mad dash is coming up next and romney for president policy adviser lanhee chen. take a look at futures as we start into the open bouncing off three month lows. "squawk on the street" continues right after this. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >> jim and his mad dash talking. this week is a watershed week for nat gas in general. >> cold in new york. 28 degrees. that often can burn off the inventory. clean energy fuels had them on last night. why focus on this? they have a clear growth path to build out stations. lloyd blankfein said in his editorial that key thing for growth in our country is energy. abundant energy. i thought we should look at clean energy that would benefit. markwest, this is a company that has a price above where they d
population control, the environment and they don't have anything in common with us. they get a peak of did a couple people they have out front to be their conservative individuals but if you really start peeling back the leaders of the onion and will make you cry. it's not conservative at all. they've got us fighting on this issue so much that the national conservative authors are claiming that it's one of the conservative principles. we need to use our conservative principles to address our problem and i think that is what has happened to the recent and it's not just about trying to win the election but grow the party and welcome people and we are wanting you to feel like you are at home. many to learn that in their rhetoric that has been displayed and is doing more damage than it is good. >> i should preface my remarks on this by saying i am in complete agreement that conservatives and republicans need to do a better job or some cases a job for the first time to appeal to hispanic voters and other nonwhite voters but we shouldn't kid ourselves about some of the obstacles we need to start
in this environment. carl, back to you. >> wednesday is the day when they name the new partners at goldman, i believe. >> that's right. >> people waiting for the call. >> people close to or a source close to goldman sachs says it will be the smallest class in over a decade. probably less than 70 will be named partners at goldman sachs this year. back to you. >> thank you so much. mary thompson at headquarters. a big mover in drilling and natural gas space. >> weatherford this morning off 12% at 3.5 year low. the company warning that fourth quarter is going to come in for earnings below consensus on that number. and they also said that they still have not been able to resolve what they call material weakness in internal controls over financial reporting. they actually didn't break out their third quarter numbers. stock getting hit hard on a day when energy is already to the downside. >> motor trend magazine naming tesla's sedan the car of the year. will the model live up to the hype? we'll find out when tesla ceo elon musk joins us. >> just seven short weeks left to hopefully do a deal on the fiscal c
explosion killed workers and 205 things of oil was entered into the environment. $2.4 billion of the company's funds will be dedicated to environmental reservations. along with the criminal and environmental panel b.p. was also pay half a million dollars to settle claims with ask ec. it >>is approved by the court would have cost b.p. nearly $42 billion. in addition the company officials are facing criminal charges. the peace entered a statement stating that they apologize for their role and that they are trying to get a resolution. they stated that they have accepted responsibility. under the clean water act they also can be facing a $20 million penalty. and this could take three years to sort out. >>in missouri a 20 year-old man is accused of plotting a shooting at a showing of the new twilight mo. he confessed to a plot after he was tipped off by his mother. he started to target wal-mart instead. he stated that if he ran out family will go to wal-mart to get more and more. >>compensation amounts for the victims of the colorado theater shooting has been finalized. the families of the 12 peo
at this stage. there's a little bit of a risk on type environment at the moment. and the ten year bund yield moving a little higher. the same goes for spain, built oig and yield, as well. we were looking at the euro just bouncing a little bit against the dollar. you're heading into this morning's session, we're holding on to those gains, 127 and a bit. the dollar yen coming off by just a tad. president obama meeting with myanmar's president and opposition leader. obama saying his six hour stopover should be seen as a sign of support for myanmar's attempts at democratic reforms rather than endorsement of the country's government. meanwhile his three day trip is also aimed at reinforcing america's ties with the region. analysts say it's something china is watching very closely. deidre has more. >> the obama's administration to choose southeast asia as the president's first foreign trip since winning re-election was greeted by some with surprise. after all, there are far bigger economies in asia that warrant his attention. the strategic importance of southeast asia in the region is in full focu
a group like this. but there is support for it in this environment and so i don't think, the system will dissolve just because there's resistance. >> trevor, i often feel like when you talk to political operatives on both sides and found risers on both sides, and donors, you hear from a strong word but this is kind of self hating core to the people are participating in this system that feel trapped. this thing is just going to go on and, therefore, they'll play and get used to. is that what is sustained this? what is it that keeps it going? >> during the course of the campaign i a chance to talk to a range of major republican donors comment and even victimized even they because i think republicans were interested in the super pacs, the party had embraced of them and citizens united. but i found romney donors saying to me this is terrible. i don't want to be able to write an unlimited check. this is not our president ought to get selected. we need to talk about this after the election. so, you know, now think one of the things that i will be doing is circling back around and saying,
. the fiscal cliff is important for a whole range of issues. it adds to the whole environment of intense uncertainty. you are asking people to make investors of their money or shareholders money at a time when nobody knows what the fiscal system will provide. connell: we talk to people on all sides of this debate. the conservative side represented by monica crowley. talking about the conversation changing from all of this from revenue to something about spending. from the business community's point of view, or you concerned? >> both are important. we need to address the fiscal cliff issue now. not december 301 or january 1. you'll get a lot of negative ahead of that. extend the tax treatment. extend the tax revisions. new found out for a period of time that will allow a real discussion about reform. connell: do you have to have a template in place or is it all right to just extend the current environment? >> i think what has been discussed is to come to some very broad agreement with goals for the relevant committees on the hill. that is good. that gives people a sense of where we are go
not to destroy the world's environment, which they will do if other things being equal. and so we want to work with them on avoiding environmental just destruction. we want them to continue bringing people from rural poverty to sort of urban working classness, which is what they've been doing. we want them to grow up in both international and domestic ways. grow up internationally in having a foreign policy that's not just whatever's good for them commercially, which is what their foreign policy is now. and to say, "okay, you have to play a role in iran and syria or whatever, being responsible." domestically, we want them to gain confidence so they don't have to have their foot on their people's neck. most of the time in china you don't know the government's around. just kind of a sort of state of chaos -- >> really? >> and, yeah. >> i mean, not like russia, the soviet union -- >> oh, it's -- >> not that blanket -- >> entirely different. it's most of the time the areas the government cares about, the internet, democratic protest or whatever, taiwan, tibet, they're all over. when it doesn't inv
% in a zero interest rate environment. we all knew it was going to be a slow economy. we all knew the market was going to grow slow. the bottom line is even with the decline in the last eight days, we're still up 6.5%, 7%. >> you're saying to buy into this selloff? >> i think you have to buy into it. where are you going to put your money? most of the money is going into fixed income. that's just crazy. we know future interest rates are going to go higher. that's not going to hurt corporations. it's not going to hurt profits, but what it is going to do is hurt the individual investor. they should be in equities. when you look at the dividend plays out there, it's crazy not to be. >> boy, when it comes to the markets, michael, you could not have a more different point of view, could you? >> we have about 30% cash. i took out another about 20%. we're about 50% today in cash. i don't think the fiscal cliff is going to happen. i think they're going to punt. i don't think anybody in washington, d.c. has the meatballs or spaghetti to care about cutting our debt and deficits. you know, the only thin
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